Online transaction data show that the world oil prices are dropping at the London and New York stock exchanges, and against the backdrop of the American Petroleum Institute (API) data with respect to a growth in oil reserves.

Accordingly, the August Futures’ Light Sweet Crude Oil (WTI) has gone down by 1.05 percent and totaled $46.31 per barrel at the New York Mercantile Exchange (NYMEX). 

And the September Futures’ Brent Crude Oil has reduced by 1.2 percent and reached $47.88 per barrel at the London ICE Futures stock exchange.